A widely followed crypto strategist and trader believes Bitcoin, Ethereum and three other cryptocurrencies have more upside potential as they trade well below their fair value this year.
In a new tweet, the analyst called Flood tells its 118,900 subscribers that Bitcoin (BTC) has an upside potential of almost 200% from its current valuation of $ 58,000. The crypto analyst believes the fair value of Bitcoin is $ 172,000 this year.
As for Ethereum (ETH), Flood says it can see the leading smart contract platform increase over 60% this year with a fair valuation of $ 3,333.
Flood is also looking at FTX Token (FTT), the native crypto exchange asset of FTX. He believes FTT is willing to skyrocket 344% from its current price of $ 50 to a fair value of $ 220.
Solana’s smart contract (SOL) platform is also on the merchant’s radar. With a fair value of $ 77 by Flood, SOL has room to grow over 185% from its current price of $ 27.
Last on the merchant list is Nerve Finance (NRV), an automated market maker running on Binance Smart Chain. Flood is bullish on NRV like him will see it is trading at $ 22.22 this year, representing a potential surge of nearly 500% from its current price of $ 3.73.
Flood also updates those crypto assets make up its portfolio. He says he added more FTT and NRV amid recent bullish price action while docking his holdings in Solana. He added that it was let’s go of its holdings in Ethereum, Aave, and Raydium (RAY) after less-than-stellar performances. The trader also points out that PancakeSwap (CAKE) is a decentralized exchange now part of its portfolio after buying it at an average price of $ 17.2.
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Featured Image: Shutterstock / Tithi Luadthong